Dutch retailer Royal Ahold today [Friday] reported a 12.4% drop in consolidated sales to €14.8bn (US$16.8bn) in the second quarter of the year ended 12 July.
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Sales excluding the effect of currency fluctuation increased by 2.5% while organic sales growth inched up 1.3%, the company said in a statement. These figures exclude sales of joint ventures and are unedited.
Ahold referred to a difficult trading environment in which US retail sales nevertheless edged up by 1.1% to $6.2bn and organic sales growth in the US rose 1.1%. Comparable sales declined by 1.1% and identical sales declined by 1.9%.
Foodservice sales in the US increased by 0.2% to $4.1bn (2002: $4.1bn). Organic sales growth also amounted to 0.2%.
Europe In Europe (The Netherlands, Spain and Central Europe), sales rose 0.6% to €3.3bn (2002: €3.2bn). Organic sales growth, excluding currency impact, amounted to 0.9%.
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By GlobalDataIn South America (Brazil, Argentina, Chile, Peru and Paraguay), sales amounted to €608.7m (2002: €503.8m), up 20.8% from last year partly due to the fact that Santa Isabel was not consolidated in the second quarter of 2002. Organic sales growth, excluding currency impact, amounted to 11.4%.
In Asia (Thailand, Malaysia, Indonesia), sales declined 15.2% to €92.9m (2002: €109.6m). Organic sales growth, excluding currency impact, amounted to 2.5%, the company said.
Meanwhile, Ahold also announced that had gained agreement from banks to extend the deadline for delivery of its 2002 audited accounts until 30 September. Ahold interim Chief Financial Officer Dudley Eustace told Dow Jones Newswires that the delay was not related to pending legal investigations.
